[darwink]

They've sold the units so until we see evidence of this I think not.

If it is going to protection, it could almost be one of the peer to peer lending companies in China. A project is advanced and capital is raised in excess of need. Then the company collapses and the money is gone. Like the Straddling Bus project, probably the best known one in the west.

Fortunately there is a built asset for this one. Whether it would be enough to clear the construction debt and still have occupancy at the same price for the 'owners', who knows.

 

[Spring2008]

Not sure where else to post this. From the Conference Board of Canada Spring 2018 Calgary Outllook. Calgary seems to have weathered the storm with solid GDP growth last yr and number one Metro for foretasted growth. Looks like our metro population is expected to top 1.5M this year.

Permits have held up quite well too, all things considering.

 

[Surrealplaces]

Population increase seems about right. Given the latest census, etc... the CMA should easily top 1.5 next year.

 

[gsunnyg]

I wouldn't say we've quite weathered the storm just yet, there are so some worrying trends moving forward, the vast majority of jobs in Alberta created since the recession have come from the public sector. In fact if look at the net job growth, the only reason Alberta has positive 40k job growth is because of the large growth in the public sector. This is not sustainable long term. On top of that the unemployment rate has been stubbornly too high in Calgary for far to long now. Calgary is also the second highest indebted city in Canada making u think what the consequences of future interest rate hikes will be on consumer spending. On top of that, the Kinder Morgan getting basically scrapped and Keystone facing delays once again, the chances of oil rebounding anytime soon isn't happening. I think the only positive news to come out all year in terms of Calgary's economy was the population growth which would definitely help boost local GDP growth but without some job growth there isn't much of a positive outlook from here on in. You would think that if Montreal, Toronto, Ottawa and Vancouver are doing so great, we'd have some of the benefits start spilling over into our city which hasn't had happened.
I know I sound very pessimistic but Im just sick of this downturn just as much as anyone else, here's hoping for better news for the remainder of this year and next year!

 

[GoVertical]

Commercial property on Northmount and Brisebois NW:

 

[Spring2008]

I wouldn't say we've quite weathered the storm just yet, there are so some worrying trends moving forward, the vast majority of jobs in Alberta created since the recession have come from the public sector. In fact if look at the net job growth, the only reason Alberta has positive 40k job growth is because of the large growth in the public sector. This is not sustainable long term. On top of that the unemployment rate has been stubbornly too high in Calgary for far to long now. Calgary is also the second highest indebted city in Canada making u think what the consequences of future interest rate hikes will be on consumer spending. On top of that, the Kinder Morgan getting basically scrapped and Keystone facing delays once again, the chances of oil rebounding anytime soon isn't happening. I think the only positive news to come out all year in terms of Calgary's economy was the population growth which would definitely help boost local GDP growth but without some job growth there isn't much of a positive outlook from here on in. You would think that if Montreal, Toronto, Ottawa and Vancouver are doing so great, we'd have some of the benefits start spilling over into our city which hasn't had happened.
I know I sound very pessimistic but Im just sick of this downturn just as much as anyone else, here's hoping for better news for the remainder of this year and next year!

Yes, you don't have to convince me. The economy could be a lot better. I'm just surprised at last yr's gdp growth plus projected growth as well as the census results. If Calgary can maintain this level of urban development with oil down/NDP, imagine when large private investments start flowing again. Think the City/Calgary Economic Development needs to step up more too. I would have thought we'd have attracted some medium sized tech/financial firms over the past couple yrs with such low lease rates, educated workforce, excellent infrastructure, high livability ratings etc.

 

[JesseLikesCities]

Delete if already posted here or somewhere else. This is a neat little video showing showing some densification along the Western portion of 16th ave Nw. It'd be nice if they added some towers in there too.

 

[RyLucky]

Delete if already posted here or somewhere else. This is a neat little video showing showing some densification along the Western portion of 16th ave Nw. It'd be nice if they added some towers in there too.

There's a lot of potential there. I'm okay with it, but my (un-optimistic) hope is this:
-better pedestrian and bike transit between Cougar Ridge, Valley Ridge, Bowness, Valley Ridge, and Tuscany. Currently these are all within about 1-2km but requires several km of high speed limit roads to get between

 

[dazzlingdave88]

I don't find this realistic on a large scale anywhere in Canada. That has nothing to do with implementation. It has everything to do with convincing the curmudgeons to narrow lanes and to segregate modes of travel by different paving. We don't build entire communities of woonerfs either here.

You have to start somewhere. I prefer the glass half full outlook. Any ideas that cost money in Calgary around improving biking are immediately shot down or fought with resistance, so inexpensive ideas are more likely to be entertained.

 

[GoVertical]

Work underway on the National Block:

 

[darwink]

The economy isn’t booming but this:”the vast majority of jobs in Alberta created since the recession have come from the public sector.” is more the result of statistics not being that great than any actual growth. All the levels of government publish headcounts and there hasn’t been any hiring sprees.

 

[maestro]

You have to start somewhere. I prefer the glass half full outlook. Any ideas that cost money in Calgary around improving biking are immediately shot down or fought with resistance, so inexpensive ideas are more likely to be entertained.

I don't consider myself a glass half empty type. Maybe on this forum. I find any posted shortcomings or criticisms are followed up by glowing stats or comparisons . I enjoy it over urbantoronto. Forumers use an ugly building to rag on Toronto's global standing.

Cost is more of an excuse not to do something. Same could be said for safety. I just feel fully segregated bike is still an easier sell.

 

[Spring2008]

Exterior work on the National Block looks really good, gives me some confidence in Arlington's future projects along 17th ave. Speaking of 17th ave, Matrix 19 and Nest's sales centres look to be open along 17th ave east of centre street, and the Fifth sales centre looks to open as well along 17th ave and 5th street sw. Looks like more confidence in the condo market lately. Saw this too:

 

[darwink]

When there is no develop-able land left in Vancouver that is not owned by a developer, you have to look elsewhere.

 

[Spring2008]

When there is no develop-able land left in Vancouver that is not owned by a developer, you have to look elsewhere.

Could be Toronto developers too. There's always land left, especially when you consider redevelopment sites. Problem is developers are taking on an increasingly large risk acquiring $300+ per buildable sf sites, especially with the potential of multi-year permit delays esp in Vancouver. On the rental side, new multi-res trading at 2-3% cap rates in Vancouver before financing. System's built on pure speculation of price appreciation which is very risky. That's also why you're seeing more developers/funds/reits developing rental in Calgary, due to higher returns over the long run despite the economy. If the economy was booming this whole time, I have no doubt Van/TO developers would have very aggressively continued expansion here. Unfortunately, we would have likely become very affordable too. So all this new supply and the slower economy last few years is a bit of a blessing in disguise.

I'm also liking that local developers are active on the midrise and rowhousing front. Massive amounts of duplex infill was always a given here, but looks like inner-city rowhousing is becoming a much bigger trend - loving it! Let the local firms tackle the middle density part (which imo is more important and covers a much larger area), big national reit's, developers/funds tackle the highrises. Some of the local firms are well positioned to do more highrise here in the future too.